Construction Business Owner, August 2012
Insights into the experience, important issues and CFMA's new direction Not even the tropical storm that stalled over Florida this June could dampen the mood at this year’s CFMA conference. The event was attended by approximately 550 registrants, not including the other attendees who came to...
Hard work alone can't save your construction business. Most construction company owners and managers spend their time on earning revenue and organizing projects, two of the three required operational functions to grow their companies. But a good bid takes a lot of time and effort. Even if you...
Why construction firms of all sizes need to leverage new systems and technology Editor's Note: This is the first article of a three-part series that will examine important productivity drivers representing the construction industry’s future.  The commitment in today’s construction market...
Protect your construction company from costly accident claims. A business automobile policy insures bodily injury and property damage liability for owned, non-owned and hired vehicles. Contractors often overlook these plans in favor of more complicated liability policies, such as professional...
An accurate business valuation depends on honesty and a lack of bias. A construction business valuation is often an eye-opening and emotional experience. Owners can be disappointed when valuators underestimate their companies. Unfortunately, many owners do not understand that fair market value...
As integrated project delivery gains momentum, contractors who embrace the challenges will stay ahead of the competition. Integrated project delivery (IPD) embodies a fundamental change from traditional construction. As this method continues to gain ground in the construction industry,...
Face your biggest challenge: How to successfully navigate workers' compensation claims Taking a backseat during the claims management process can have a devastating effect on the outcome of workers’ compensation claims. The Insurance Information Institute (III) estimates that workers’...
Understanding the misconceptions about ESOPs Construction is a highly cyclical industry, but that doesn’t mean employee stock ownership plans (ESOPs) aren’t a viable option for a contracting firm. According to ESOP Association statistics, of the approximately 10,000 U.S. companies that...
Protect yourself from discrimination claims when building your team.  If an employer does not comply with applicable laws, the hiring process can expose a business to potential liability in the form of employment-related legal claims. Avoiding some of the more common mistakes during the...
Discover how increased collaboration improved the construction of a prominent New York skyscraper. The 8 Spruce Street skyscraper, designed by architect Frank Gehry, now stands as one of the most distinctive features of the Manhattan skyline. The 1.1 million-square-foot building (originally...
Save time and money during the application process with today's electronic resources. Few contractors recognize the importance of prequalifying subcontractors before inviting their bids. Many fail to consider prequalification as a vital part of the construction process, yet the few hours this...
Small actions can prevent big accidents—remind your employees of safety training basics with this checklist. A number-one priority for construction businesses, on-site safety can include everything from establishing a company-wide safety plan to purchasing the proper equipment. According to...
When dealers commit to one manufacturer, customers can benefit. Every equipment dealer who enters a branded partnership commits to an extensive transition. Handing over the branding reins to a single manufacturer can be intimidating, but dealers gain significant benefits from the relationship—...